WEBVTT - Nvidia H20 Chips; Workday Drops; Zoom Higher

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg Data. Let's do stock Movers

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<v Speaker 1>with Lisa Mittail.

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<v Speaker 2>All right, so we want to start with Nvidia sticker MVDA.

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<v Speaker 2>The shares have been down as much as one percent

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<v Speaker 2>before the open. This is all because of a report

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<v Speaker 2>from the Information Right. It said that Nvidia told their

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<v Speaker 2>component suppliers, including Samsung, including Amcor, to stop production related

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<v Speaker 2>to that H twenty AI chip that we've all been

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<v Speaker 2>hearing about. And it came weeks after the Chinese government

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<v Speaker 2>it told local tech companies to stop buying the chips

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<v Speaker 2>due to alleged security concerns. So what the information is

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<v Speaker 2>saying is that Chinese authorities are worried that in Nvidia's

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<v Speaker 2>chips they could contain these back doors that funnel sensitive

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<v Speaker 2>data from China to the US. So as a result,

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<v Speaker 2>that's why Chinese authorities they're encouraging local companies to use

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<v Speaker 2>Chinese made AI chips like these that are sold why

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<v Speaker 2>huah Wi. So that has in Vidia shares lower.

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<v Speaker 1>But what is.

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<v Speaker 2>Soaring on the news, It's the Chinese chip stocks like

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<v Speaker 2>you have in Hong Kong Wa Huahang Semi there shares

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<v Speaker 2>up seventeen percent. Say that three times fast Shanghai Food.

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<v Speaker 2>On a microelectronics, they're up about six percent before they're open.

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<v Speaker 2>So that's as far as in video now Zoom communications, right,

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<v Speaker 2>we all do the videos on Zoom. Sometimes we have

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<v Speaker 2>the meetings there.

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<v Speaker 1>I don't you don't do the Zoom meeting seriously, you

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<v Speaker 1>know my entire life.

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<v Speaker 2>I've done maybe three or four Zoom meetings in my

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<v Speaker 2>entire life. Wow, nobody wants to talk to me anymore.

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<v Speaker 2>That's the bottom you're look it. You want to meet

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<v Speaker 2>people in person. That's what you're all about, Okay, the

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<v Speaker 2>face to face Okay. So their shares them up as

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<v Speaker 2>much as five percent. What it did, It gave us

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<v Speaker 2>stronger than expected annual outlook for sales growth, raise its

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<v Speaker 2>fiscal year forecast, so it looks like customers actually buy

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<v Speaker 2>more of the company's expanded software products. It really blew

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<v Speaker 2>up during their pandemic, you know, that's when everybody went

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<v Speaker 2>into the zooms, right, But as we got back to normal,

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<v Speaker 2>a lot of the customers they let their Zoom licenses laps,

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<v Speaker 2>but corporate customers, a lot of them did hold onto it,

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<v Speaker 2>and that's who is still using the bulk of it.

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<v Speaker 2>We go from that to Workday, okay, sticker Wday their

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<v Speaker 2>share no, no, no, yes, it shares drop more than

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<v Speaker 2>five percent. So second quarter Professional Services ADJ just a

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<v Speaker 2>gross profit and missed estimates. But the other news, okay,

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<v Speaker 2>so it agreed to acquire Paradox, and why this is

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<v Speaker 2>important because it's a company that uses AI to automate

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<v Speaker 2>that recruitment and hiring process, so that brings AI now

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<v Speaker 2>into workday a little bit more AI. No word to

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<v Speaker 2>the financial terms of that deal though, but it just

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<v Speaker 2>came a week because we just heard news before that

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<v Speaker 2>Workday had bought flow Wise. That's a platform for building

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<v Speaker 2>AI agents. And that's another deal that didn't disclose financial agreements,

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<v Speaker 2>but it's just supposed to show you AI started to

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<v Speaker 2>go into that whole human resources like type Realm.

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